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6 thoughts on “The Tax Bill”

A fifth option is to get congress to pass another tax cut and be another tax cut which Dems and and some Reps favor.
Maybe throw in further lowering of corporation tax, so say it’s 20%.
Or idea dems are deficit hawks is foolish and Reps are suppose to want lower taxes and small government [though a lot of them are deficit hawks]

So something which lower deficit [without weaken Military spending- though getting less waste of military spending, might work- but basically going after other larger spending to get less waste- and getting Fed less involved- moving more to local level or individual level- could be pathway. Or argue the with less welfare due to increased increased growth rate, you have less of deficit problem.

Also getting rid of Dept education and EPA and others would free up more fed money- and how much do the blues state need them vs idea of reducing blue State spending?

Under the old system, two people in identical financial situations, but with one living in a high tax state and the other in a low tax state, pay very different amounts to the Feds, because of the deductibility of state and local taxes. In other words, the one in the low tax state pays more Federal tax, his federal taxes thus subsidizing the high tax states.

Redressing this a little (which is all the new tax law does in this regard) is what the Democrats are so freaked out about, so much so that they are really going to the mat to try to protect the few wealthy who would be hit, even if it means royally screwing over poorer folk via replacing the state income tax with a payroll tax.

It’s almost like they don’t actually believe in higher taxes. They just like to have the issue. Pretty convenient they have the GOP there to always stop them from raising taxes. They get to keep the issue and the tax rates they like.